Renova files for bankruptcy protection

Renova files for bankruptcy protection

Debt Loans Regulation Brazil

Brazil's Renova Energia said it has filed for bankruptcy protection, going to court to restructure BRL3.1bn ($746m) in total debt. The São Paulo-based renewable energy company listed debt to banks and other creditors, along with BRL834m in intercompany debt and BRL980m owed to shareholders. "The company, through a judicial recovery plan that will be presented to creditors for approval within the legal timeline, intends to reestablish its economic and financial balance and honor the commitments i

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